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Signage outside the Didi Chuxing Technology Co. offices in Hangzhou, China. Photo: Qilai Shen/Bloomberg via Getty Images

Chinese ride-hailing company Didi priced its initial public offering at the top of its range at $14, according to media reports. The company is reportedly considering selling more shares than planned to raise more than $4 billion, and giving it a market cap of at least $67 billion.

Why it matters: Didi will be the second largest U.S. IPO by a Chinese company after Alibaba, which raised about $25 billion from investors in 2014. Didi also famously acquired Uber's Chinese business after an expensive battle to win the market.

Go deeper

Bryan Walsh, author of Future
Sep 19, 2021 - Technology

Synthetic biology leader Ginkgo Bioworks goes public

Ginkgo Bioworks ringing the bell at the New York Stock Exchange. Photo: Ginkgo Bioworks

Ginkgo Bioworks — a Boston-based company that wants to make biology as easy to program as a computer — began trading on Friday after going public via a SPAC.

Why it matters: Ginkgo's multibillion-dollar offering is a milestone in the maturation of synthetic biology from a science to a true industry.

Ina Fried, author of Login
2 hours ago - Technology

Intel CEO sees making own chips as a matter of national security

Pat Gelsinger. Photo: Axios on HBO

Intel CEO Pat Gelsinger is putting the pressure on the U.S. government to help subsidize chip manufacturing, insisting the current reliance on plants in Taiwan and Korea as "geopolitically unstable."

Why it matters: There is bipartisan support for funding the domestic semiconductor industry, but Congress has yet to sign the check. The Senate has passed the CHIPS Act that includes $52 billion in semiconductor investment, but it has yet to pass the House.

Updated 2 hours ago - World

17 U.S. and Canadian missionaries kidnapped in Haiti

Haitian soldiers guard the public prosecutor's office in Port-au-Prince this month. Photo: Richard Pierrin/AFP via Getty Images

Children are among a group of 17 missionaries kidnapped in Port-au-Prince, Haiti, per a statement from Christian Aid Ministries Sunday.

The latest: "The group of 16 U.S citizens and one Canadian citizen includes five men, seven women, and five children," the Ohio-based group said. Haitian police inspector Frantz Champagne on Sunday identified the 400 Mawozo gang as the group responsible, in a statement to AP.